India’s Infra.Market valued at $2.5B in Tiger Global-led $125M funding
Infra.Market, which takes on Lightspeed-backed Zetwerk, helps small services such as makers of paints and cements enhance the quality of their production and satisfy various compliances.
The start-up, which stated it expects to go beyond $1 billion in sales by the end of this calendar year, plans to deploy the fresh fund to broaden to brand-new markets and likewise expand into new classifications. It’s also aiming to obtain more youthful firms, the startup stated.
These improvements, explained co-founder Souvik Sengupta, assist small makers land larger customers that have higher expectations from business with which they engage. He said the startup has assisted small makers reach consumers outside of India. A few of its clients remain in Bangladesh, Malaysia, Singapore and Dubai.
Infra.Market, an Indian startup that is assisting building and property business in the world’s second-most inhabited country procure products and deal with logistics for their projects, stated on Tuesday it has protected its 3rd funding round in the previous 9 months.
The start-up adds its load cells to the production facilities of these little businesses to make sure there is no lapse in quality, and also assists them deal with other companies that can supply them with much better basic material and offer assistance on prices. It also works closely with services to ensure that their shipments are made on time.
“We continue to build on our vision of developing India’s biggest multiproduct construction materials brand name and change the building and construction materials supply chain, not only in India, however likewise globally,” he said.
“We are pleased to double-down on our investment in Infra.Market. The team has shown exceptional growth and continues to disrupt the building and construction materials market. Over the previous year, Infra.Market has become the go-to partner, specifically throughout the pandemic when the standard supply chains were disrupted,” said Scott Shleifer, partner, Tiger Global Management, in a declaration.
“We are also starting new organization verticals within the building ecosystem beyond materials to allow us to supply end to end solutions to our customers throughout the life cycle of a building job. We are seeing huge growth in purchaser wallet share as we are quickly expanding our item portfolio and market presence and the launch of brand-new verticals will help us satisfy our vision of producing a technology backed end to end building and construction solutions business.”
Tiger Global, which led the startup’s Series C round in February this year, has led the $125 million Series D funding round in the five-year-old startup. The brand-new round valued Mumbai-headquartered Infra.Market at $2.5 billion (post-money), up from $1 billion in February and $200 million in December last year. The start-up, which counts Nexus, Foundamental and Accel Partners among its investors, has raised about $275 million to date.
The startup includes its load cells to the production centers of these small services to ensure there is no lapse in quality, and likewise helps them work with other organizations that can supply them with better raw material and provide guidance on prices.”We are likewise embarking on new organization verticals within the building environment beyond materials to enable us to provide end to end services to our clients throughout the life cycle of a building and construction job. The startup, which said it anticipates to surpass $1 billion in sales by the end of this calendar year, prepares to deploy the fresh fund to expand to new markets and also expand into brand-new categories.